Marks & Spencer hit by defection of menswear boss Price

Marks & Spencer has been hit by the departure of its head of menswear.

Richard Price is the latest senior executive to leave M&S this year. He is switching to retail rival BHS as managing director.

“Richard is a talented individual and has done a great job in menswear,” M&S said.

“His new role presents a unique and challenging opportunity to take on a wider remit. We understand why Richard would want to pursue this, and he leaves with our thanks and very best wishes for the future.”

The loss of Price will be regarded as a blow to M&S boss Marc Bolland, with the high street giant sustaining a number of high-level exits in 2012.